MedTech Acquisition Corporation (NASDAQ:MTAC) announced in an 8-K this morning that its shareholders approved its combination with drug developer TriSalus Life Sciences at a special meeting yesterday.
A further 890,499 shares were redeemed in the vote, which would reduce the SPAC’s trust by $9.4 million, leaving about $2.6 million remaining. These last shares were likely primarily those secured in a $2 million backstop that MedTech added to the deal last month.
It also attached $17.8 million to the deal via a convertible share investment at the same time, but this would still not cover the transaction’s $35 million minimum cash condition.
MedTech noted in the filing that it expects this and other closing conditions may be waived, after which the combined company’s shares and warrants would begin trading on the Nasdaq under the symbols “TLSI” and “TLSIW”.
MedTech initially announced its $234 million combination with TriSalus Life Sciences in November. Denver-based TriSalus is developing a range of cancer treatments that utilize the company’s approved and commercialized medical device
TriSalus plans to have Phase 1 efficacy data for a trial involving multiple doses of its SD-101 candidate in the second half of this year. In April, TriSalus presented clinical data from its Phase I trials using doses of varying size, which indicated positive results in reducing tumor growth in liver cancer patients.
Berenson Acquisition Corp. I (BACA) Signs Non-Redemption Agreements Berenson (NASDAQ:WTMA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure 655,715 shares from redemption. The filing did not note what incentive, if any, these investors received for agreeing not to redeem. The move comes as Berenson is...
Crixus BH3 Acquisition Company (NASDAQ: BHAC) announced in a filing this afternoon that it is postponing its extension vote to Friday, October 6, 2023 at 9:00 a.m ET. The meeting was originally to be held Friday, September 29, but presumably it has been moved to account for amendments to its proxy which was filed today...
Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) announced in an 8-K this afternoon that it is postponing its extension vote one day to 2 pm ET September 29. The SPAC would not be able to postpone it much further as its current transaction deadline falls on a Saturday the next day, September 30. At the...
Global Lights Acquisition Corp. (NASDAQ:GLAC) rolled out an S-1 on Friday, to become the 21st SPAC to file in 2023. This keeps the recent pace with two new SPACs filing to list in each of the past three months so far. Three out of the last four of those have also sought to raise $60...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Terran Orbital Closes 432.5 Million Public Offering Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), which combined with Tailwind Two in March 2022, today announced the closing of its previously announced public offering of 23,214,290...